Business and Economy

NGX All-Share Index slips by 2bps at close of trading on Tuesday

Activity on the Lagos bourse was mixed albeit with a bearish tilt as the benchmark index closed marginally lower by 0.02% to close at 43,808.25 points. Selloffs in WAPCO (-9.66%) and ACCESSCORP (-0.61%) offset the investors interest in BUAFOODS (+1.16%), ZENITHBANK (+0.75%), GTCO (+2.26%) and FBNH (+0.48%). Consequently, the ASI’s year-to-date (YTD) return fell to 2.56%, while the market capitalisation lost ₦17.67bn to close at ₦23.86trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 53.20%. A total of 103.47m shares valued at ₦1.19bn were exchanged in 3,045 deals. FBNH (+0.48%) led the volume chart with 11.39m units traded while BUAFOODS (+1.16%) led the value chart in deals worth ₦221.59m.

Market breadth closed positive at a 1.2-to-1 ratio with advancing issues outnumbering declining ones. LEARNAFRICA (+10.00%) topped eleven (11) others on the gainer’s table, while WAPCO (-9.96%) led nine (9) others on the laggard’s log.

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